NVIDIA (NASDAQ:NVDA) Shares Up 1.8%

Shares of NVIDIA Co. (NASDAQ:NVDA) rose 1.8% during trading on Friday . The company traded as high as $127.71 and last traded at $126.24. Approximately 97,432,517 shares traded hands during trading, a decline of 80% from the average daily volume of 482,818,063 shares. The stock had previously closed at $123.99.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of analyst reports. Robert W. Baird lifted their target price on shares of NVIDIA from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. Jefferies Financial Group lifted their target price on shares of NVIDIA from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday. Sanford C. Bernstein lifted their target price on shares of NVIDIA from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. StockNews.com downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Finally, UBS Group boosted their price target on shares of NVIDIA from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Five analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $123.80.

NVIDIA Stock Performance

The firm’s 50-day moving average is $104.51 and its 200 day moving average is $82.41. The stock has a market cap of $3.05 trillion, a PE ratio of 73.82, a P/E/G ratio of 1.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.14 and a current ratio of 3.53.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.51 by $0.10. NVIDIA had a net margin of 53.40% and a return on equity of 110.60%. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. NVIDIA’s revenue for the quarter was up 262.1% on a year-over-year basis. As a group, research analysts anticipate that NVIDIA Co. will post 2.52 EPS for the current year.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a $0.10 dividend. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, June 11th. This represents a $0.40 annualized dividend and a yield of 0.32%. NVIDIA’s dividend payout ratio is 2.34%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the completion of the transaction, the director now owns 2,967,136 shares in the company, valued at approximately $3,544,451,651.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Mark A. Stevens sold 227,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $88.00, for a total transaction of $19,975,319.00. Following the transaction, the director now directly owns 10,521,330 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $1,194.57, for a total transaction of $119,457,000.00. Following the transaction, the director now directly owns 2,967,136 shares in the company, valued at $3,544,451,651.52. The disclosure for this sale can be found here. Insiders sold a total of 1,746,590 shares of company stock worth $309,332,104 in the last 90 days. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at about $14,606,369,000. International Assets Investment Management LLC grew its stake in NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after acquiring an additional 16,835,703 shares during the last quarter. Vanguard Group Inc. grew its stake in NVIDIA by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock valued at $192,761,538,000 after acquiring an additional 8,828,050 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in NVIDIA in the 1st quarter valued at about $4,826,280,000. Finally, Swedbank AB acquired a new stake in NVIDIA in the 1st quarter valued at about $3,922,733,000. 65.27% of the stock is owned by institutional investors and hedge funds.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.